Germany Car Rental Market is expected to grow owing to shifting consumer preferences, inter travel between the cities with sightseeing in the tourist spots: Ken Research
Germany Car Rental Market is at growing stage and has moderately fragmented market with about 10-12 organized rental car providers. The Car Rental Market in the Germany has seen emergence of more players over the past 5 years. SIXT SE, Enterprises Holdig Inc., Europcar, and AVIS are market leaders in Germany.
Key Findings
- In July 2022, Sixt announced that it is expanding its electric vehicle (EV) lease offerings in Germany. The Company has now German-made Tesla Model Y Performance available for lease to the users of the electric vehicle in Germany.
- Growth rate of total car rental market is going to increase over the period as car leasing becomes easier, and market penetration rates increase in the country.
- The tourism sectors in cities are expanding, which is expected to have a beneficial impact on the Indonesian car rental market growth.
Technological Advancement: Technological advancement and digitalization are factors assisting market players to stay ahead of the competition. Car rental services are often complemented by websites, allowing online reservations and car rental offices are primarily located near airports or busy city areas. Alongside the basic rental of a vehicle, car rental agencies typically offer extra services, such as GPS navigation systems, insurance, and entertainment systems.
Long Term Car Renting to Gain Momentum: Considering the fact of the cost associated with buying a new vehicle and its maintenance, the longer-term car renting market is expected to witness elevated demand during the forecast period. With the outbreak of the COVID-19 pandemic, the demand fell drastically as most of the offices shifted their work to a work-from-home policy, and tourists were not allowed in the country to restrict the virus from spreading. However, with the gradual opening of the economy and businesses, the demand is returning to the market, and it is expected that the market may grow at a high rate during the forecast period and because of these things market is coming back to its feet with new trends and development.
Support for sustainable travel boosts interest in train and bus transport: With broader challenges confronting all travel operators during the pandemic, car rental companies have suffered many of the same losses as other modes of transportation, such as airlines and trains, as a result of pandemic-driven demand for private travel options to non-urban destinations. However, as normal travel patterns resume in the coming years, car rental companies will face more direct competition from other modes of ground transportation, such as trains and buses, which will also seek a larger share of the more localized domestic and regional trips that are likely in the coming years, given the longer-term challenges facing long-haul travel.
Analysts at Ken Research in their latest publication “Germany Car Rental Market Outlook to 2027F– Segmented by Market Structure (Organized Market and Unorganized Market), By Type of Vehicles (Small Cars/Hatchbacks, Sedans, SUV and Others, By Ice/EV (Ice (Internal Combustion Engine) And Electric Vehicles, By Cities (Berlin, Hamburg, Munich and Others), By Mode of Booking (Online and Offline), By Client (Business and Leisure and By Pick-Up (On-Airport and Off-Airport).” observed the potential of the Car Rental Market in Germany. The expansion of the tourism industry with rising foreign tourists in Germany and On- Demand for transportation, the rising internet population in the country, and increasing demand from customers along with government incentives on electric vehicles are expected to contribute to the market growth over the forecast period. The Germany Car Rental Market is expected to grow at ~% CAGR over the forecasted period 2022-2027F.
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Key Segments Covered in the report
Germany Car Rental Market
By Market Structure:
- Organized market
- Unorganized market
By Type of Vehicles:
- Small Cars/ Hatchbacks
- Sedans
- SUVs
- Others
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By ICE/EV:
- ICE (Internal Combustion Engine
- Electric Vehicles
By Cities:
- Berlin
- Hamburg
- Munich
- Others
By Mode of Booking:
- Online
- Offline
- By Client:
- Business
- Leisure
By Pick-up:
- Off-Airport
- On-Airport
Key Target Audience
- Car Rental Service Providers
- Car Rental Companies aiming to establish in Germany
- Germany’s automotive industries
- Government Bodies & Regulating Authorities
- Venture Capitalist targeting the car rental market
- Automotive industry association
- Car Manufacturers
- Existing Car Rental Companies
- OEM Dealerships
- New Market Entrants
- Investors
- Car Rental Associations
Time Period Captured in the Report:
- Historical Year: 2017-2022
- Base Year: 2022
- Forecast Period: 2022– 2027F
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Companies Covered:
- Europcar
- Sixt
- Avis
- Hertz
- Alamo
- Buchbinder
- Budget
Key Topics Covered in the Report
- Overview, Operating Models and Company Profile of the Automotive Industry in the Germany, 2022
- Overview, Genesis and Ecosystem of Car Rental Market in Germany, 2022
- Business Cycle, Timeline, and Value Chain Analysis of Car Rental Market in Germany
- Germany Car Rental Market Sizing, 2017- 2022P
- Market Segmentations of Car Rental Market in Germany (by Market Structure, by Type of Vehicle, by ICE/ EV, by Mode of Booking, by Pick-up, by Client, by cities), 2022
- SWOT Analysis and Growth Drivers of Germany Car Rental Market
- Government regulations of Germany Car Rental Car Electrification Market
- Trends, Developments and Challenges of Germany Car Rental Market
- Competitive Analysis of Car Rental Market in Germany
- End User Analysis of Car Rental Market in Germany
- Future Outlook and Projections of Car Rental Market in Germany, 2022-2027F
- Market Opportunities and Analyst Recommendations
For more information on the research reports, refer to below link: –
Future Outlook of Germany Car Rental Market
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